double top keeps downtrend in place

Well folks, it's been over a month since I graced these pages. When I last posted I predicted a short term move up that wouldn't go higher than 12.5c (well I actually said I may change my mind if the sp breaks 12.5c) before resuming its downtrend to eventual new lows.

So far the short term rally is over hitting exactly 12.5c setting up a double top with the Feb 2011 highs. This is a lower double top that is within the dominant downtrend and therefore carries a high probability of continuing south.

I think I mentioned that new lows would come in the months of June or July so everything looks to be on track here. Still forecasting ultimate lows around 6c around September give or take a month.

Hope my earlier posts were able to help some. I do cop a lot of flak by shareholders that don't want to hear about their stocks going down in value but I just tell it like I see it folks.